Bank of New York Mellon Corp decreased its stake in Halliburton Company (NYSE:HAL) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,069,552 shares of the oilfield services company’s stock after selling 854,777 shares during the period. Bank of New York Mellon Corp owned 1.39% of Halliburton worth $515,489,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock valued at $2,550,805,000 after buying an additional 50,022,982 shares during the period. Vanguard Group Inc. increased its stake in Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after buying an additional 2,242,976 shares during the period. Janus Capital Management LLC increased its stake in Halliburton by 70.1% in the first quarter. Janus Capital Management LLC now owns 4,641,978 shares of the oilfield services company’s stock worth $228,423,000 after buying an additional 1,913,257 shares during the period. Westwood Holdings Group Inc. increased its stake in Halliburton by 20,009.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,551,240 shares of the oilfield services company’s stock worth $76,337,000 after buying an additional 1,543,526 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Halliburton by 261.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,112,557 shares of the oilfield services company’s stock worth $103,959,000 after buying an additional 1,528,779 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Halliburton Company (NYSE:HAL) opened at 38.72 on Wednesday. The firm’s market cap is $33.75 billion. The company has a 50-day moving average price of $41.73 and a 200-day moving average price of $46.52. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) earnings per share. On average, equities research analysts forecast that Halliburton Company will post $1.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s payout ratio is -423.50%.

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A number of analysts have recently issued reports on the stock. UBS AG reiterated a “buy” rating and issued a $70.00 price objective on shares of Halliburton in a report on Monday, May 15th. Royal Bank Of Canada set a $65.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, July 1st. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 price objective (down from $67.00) on shares of Halliburton in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price objective on shares of Halliburton in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $59.13.

Halliburton Company Profile

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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